Demonetization's Effects: A Study Focused on the Ambala District HARISH KUMAR
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Abstract
Demonetization is the procedure of eliminating a monetary unit's lawful tender position. Each
occasion the monetary system is modified, demonetization is required. A new currency unit must
be introduced to replace the previous one. 200 participants were randomly chosen for samples
from the Haryana district of Ambala. Four factors—gender, age, annual income, and
occupation—have been found to significantly correlate with the effects of devaluation.
Demonetization's role in destroying black money came in first place among respondents'
rankings, which were then followed by the elimination of social evils including terrorism and
corruption.
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